Ryanair sees record annual profit, first regular dividend as fares soar

ryanair-sees-record-annual-profit,-first-regular-dividend-as-fares-soar
Ryanair sees record annual profit, first regular dividend as fares soar

Ryanair expects to achieve a record annual profit and will introduce a regular dividend for the first time, according to the company. The airline attributes its success to a 24% increase in fares during the summer season, which are expected to remain high due to limited capacity. Ryanair’s forecasted after-tax profit for the year ending in March is between 1.85 billion and 2.05 billion euros, surpassing its previous record of 1.45 billion euros in 2018. Shares in Ryanair rose by 6% at 0850 GMT, and the company anticipates strong growth in the coming year. Ryanair has been expanding its capacity at a faster rate than its competitors, capitalizing on the surge in travel following COVID-19 lockdowns. In the third quarter, Ryanair’s fares were ahead of last year by a “mid-teens” percent margin. The company plans to pay a regular dividend of 400 million euros next year and return approximately 25% of after-tax profit through ordinary dividends in subsequent years. Ryanair’s Chief Financial Officer, Neil Sorahan, views this dividend policy as a vote of confidence in the company. Ryanair earned 2.18 billion euros in the first half of its financial year, a 59% increase from the previous record for the same period. The airline is concerned about potential delays in the delivery of Boeing 737 MAX aircraft but is in regular communication with Boeing to address the situation.

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Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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